SeaWorld settles investor lawsuit
SeaWorld Entertainment Inc. has agreed to settle a lawsuit brought by investors over misleading statements made by the company.
It will pay $65 million to settle the lawsuit while it admits ‘no fault, liability, or wrongdoing’ under the terms of the settlement.
It brings an end to a years-long dispute but still requires court approval.
Following the release of the 2013 documentary ‘Blackfish,’ executives continued to deny there was any material impact on the business.
In 2018, SeaWorld and two former executives paid than $5 million to settle a federal fraud case alleging they made misleading statements.
The exposure of ‘Blackfish’ led to years of struggle for the theme park operator, the ousting of multiple executives and wholesale changes to how it manages wildlife.
Last week it announced that trainers will no longer ‘surf ride’ dolphins at its theme parks.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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